Market Overview

April 22nd Watchlist

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Markets are slightly positive this morning after G-20 approval of Japan's ridiculous stimulus programs. The perception this morning is that the global growth story is still intact. Home Sales figures will be coming out at 10 AM so watch for the market reaction off that data release. Caterpillar (NYSE: CAT) reported earnings this morning and cut their 2013 outlook for sales and EPS. Ironically the stock is up off the news, maybe because of the thrashing it has taken thus far in '13.

Netflix (NASDAQ: NFLX) is scheduled to report tonight and also received an upgrade this morning so the stock is looking at a nice premarket gap up close to 4 points.

Traders remain cautiously bullish despite last weeks attempt at a sell-off. Sellers still have no follow through for the most part though and holding any kind of short position right now in this environment is a difficult endeavor. The market now needs a catalyst though to push back over those all-time highs and we may see them from the housing market this week so keep an eye out for that data.

The Precious Metals are also looking at a relief rally this morning after comments from Goldman (NYSE: GS) saying they're dipping back into Copper.


The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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